The market rebounded as most US inflation readings met estimates, with a 6.0% year-on-year increase, though monthly core inflation was slightly higher at 0.5%. US stocks also closed higher as the aftershock of Silicon Valley Bank’s collapse subsided, with the Nasdaq 100 surging 276 points (+2.32%) to 12,199. The S&P 500 added 64 points (+1.68%) to 3,920, and the Dow Jones Industrial Average climbed 336 points (+1.06%) to 32,155.
The EUR/USD rate edged up 3 pips to 1.0732. Mitrade expects the European Central Bank to raise rates by 50 basis points early Friday morning. AUD/USD increased 15 pips to 0.6679.
A slow drop in the UK Claimant Count Change saw GBP/USD falling 23 pips to 1.2158. USD/CAD slipped 40 pips to 1.3684, and USD/JPY rebounded 104 pips to 134.22.
Spot gold declined $9 to $1,904.01 an ounce, and WTI oil futures slid $3.47 to $71.33 a barrel. Bitcoin and Ethereum extended their rally to $24,947.0 and $1,706.92 respectively.
The EUR/USD rate edged up 3 pips to 1.0732. Mitrade expects the European Central Bank to raise rates by 50 basis points early Friday morning. AUD/USD increased 15 pips to 0.6679.
A slow drop in the UK Claimant Count Change saw GBP/USD falling 23 pips to 1.2158. USD/CAD slipped 40 pips to 1.3684, and USD/JPY rebounded 104 pips to 134.22.
Spot gold declined $9 to $1,904.01 an ounce, and WTI oil futures slid $3.47 to $71.33 a barrel. Bitcoin and Ethereum extended their rally to $24,947.0 and $1,706.92 respectively.